Camden top performing London location on house price indexMonday, 18 June 2012 10:02
Camden topped the list of London locations to record a dominant house price rise for June.
According to the Rightmove house price index the trendy London area of Camden saw a house price rise of 3.1 per cent between May and June.
The average asking price for a house in Camden now sits at £926, 629.
Other London locations to outstrip the rest are Wandsworth with a rise of 2.8 per cent, Kensington and Chelsea saw the same increase in house prices while Kingston-upon-Thames saw prices jump by 2.5 per cent.
Overall London is the only region where house price rises have surpassed inflation increases with prices now three per cent ahead of the national retail price index.
“From a seller perspective, in spite of new record prices, most are still worse off in real terms than they would have been selling five years ago,” Miles Shipside, director at Rightmove said.
“The more property-affluent Londoners are the exception, and in the capital the more common rule of thumb is that the rich have got richer.”
Across the UK June has seen a one per cent monthly rise in asking prices compared to May.
This equates to an increase of about £2,476 and is 2.4 per cent higher than the same time last year.
This is the third month positive figures have been recorded and this trend has been buoyed by more robust southern regions such as London and the South East.
A whopping 29,394 sellers per week came to the property market prior to the Jubilee weekend.
This is the highest new listing run-rate for two years and Rightmove experts believe this trend will see no increases in asking prices as supply exceeds demand during the summer months.